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ShaMaran Petroleum ( (TSE:SNM) ) has issued an update.
ShaMaran Petroleum Corp. reported a transformative year in 2024, marked by a significant increase in production and financial performance. The company completed a strategic acquisition, doubling its working interest production to over 21,000 barrels of oil per day and achieving a reserves replacement ratio of over 200%. ShaMaran also extended its bond maturity and reduced its debt, setting a clear path for potential capital returns to shareholders. Despite the continued closure of the Iraq-Türkiye pipeline impacting operations, the company saw substantial revenue growth due to increased local sales and production capacity.
More about ShaMaran Petroleum
ShaMaran Petroleum Corp. is a company operating in the oil industry, primarily focused on exploration and production. The company has a significant stake in the Atrush Block in the Kurdistan region, where it engages in oil extraction and sales.
YTD Price Performance: 70.83%
Average Trading Volume: 373,971
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$583.4M
Learn more about SNM stock on TipRanks’ Stock Analysis page.
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